The Government of India (GoI) has announced the sale (reissue) of (i) “6.99% Government Security 2026”for a notified amount of ₹8,000 crore (nominal) by price-based auction using the uniform price method, (ii) “7.17% Government Security 2030for a notified amount of ₹7,000 crore (nominal) by price-based auction with the uniform price method, (iii) “7.18% Government Bonds 2037for a notified amount of ₹12,000 crore (nominal) by price-based auction using the uniform price method and (iv) “7.25% Government Security 2063for a notified amount of ₹12,000 crore (nominal) by price-based auction using the multiple-pricing method. The GoI will have the option to withhold an additional subscription up to Rs 2,000 crore against each of the aforementioned securities. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai on 1st September 2023 (Friday).
Up to 5% of the notified bond sale amount will be allotted to eligible individuals and institutions under the Non-Competitive Bidding Process Program in Government Bond Auction.
Both competitive and non-competitive bids for the auction must be submitted electronically on the Reserve Bank of India’s Core Banking Solution (E-Kuber) system on 1 September 2023. Non-competitive bids must be submitted between 10:30 and 11:00 and competitive offers must be submitted between 10:30 and 11:30.
The result of the auctions will be announced on September 1, 2023 (Friday) and payment by successful bidders will take place on 4 September 2023 (Monday).
The Securities will be eligible for trading “When Issued” in accordance with the guidelines on “Transactions When Issued in Central Government Securities” issued by the Reserve Bank of India in Circular No. RBI/2018-19/25 dated 24 July 2018 as amended from time to time.